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Self employed consultant + Earning rent on my property

23/01/2018 12:15:07
Hi
I am self- employed and I have earning from the business as well as I earn rent from my property. I have expenditures related to my business as well as for the property maintenence. Can I add the two earnings and the two expenditures to work out the difference to work out my net before-tax earning to calculate the tax I need to pay?
(Rent+self emplyed earning) - (Self emplyed business expenses+ Property maintenance expenses)
Many thanks for your advice.
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Re:Self employed consultant + Earning rent on my property

23/01/2018 14:39:47
Hi

For your own record, you can use this method, remembering to take into account the personal allowance and any other income. However on a tax return we would need the self-employed income and property income declared separately. If you submit online then this will be automatically calculate the tax for you at the time.

Kind regards

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